Dangote contributes 53% of govt revenues from mineral sector – NEITI

Aliko Dangote.

*Aliko Dangote.

Oscarline Onwuemenyi

26 May 2016, Sweetcrude, Abuja – The Nigeria Extractive Industries Transparency Initiative (NEITI) has disclosed that Dangote Industries Limited generates more mineral resource revenue for the government than the rest of the nation put together.

NEITI, which made the disclosure in a report, yesterday, said Dangote Cement, for instance, was responsible for 53 per cent of government’s revenue, that is, N15.9 billion of the total N33.86 billion accrued that year to the federal government.

The report further revealed that 93 percent of the total government revenues from solid minerals sector was from five companies: Dangote, WAPCO, Ashaka Cement, Unicem, CCNN and others.

According to NEITI, “53 percent of the country’s revenue from the solid minerals sector was paid by Dangote Cement Plc to the federal government.”

The agency said Nigeria has about 52 solid mineral resources across all states of the federation, with every state possessing at least two mineral resources. But of all 52, limestone was exploited more in 2013, than 51 others put together.

Limestone, which is used for making cement, was responsible for 52 percent of solid mineral productions. Granite, Laterite, and sand were responsible for 27.8, 11.3 and 5.8 percent respectively. Forty-eight other minerals were responsible for only 3 percent of the country’s solid mineral productions.

Dangote Cement Plc has recently expanded its frontiers to Asia, by constructing a 3 million metric tons per annum, mmtpa, Cement Plant in Nepal, as part of its new investment of $4.34 billion into 10 African countries.

Aliko Dangote, Chairman of Dangote Cement, who revealed this recently assured Nigerians that, the country will no longer be used as a dumping ground, as the company, now has the capacity to export more than 10 million metric tons of cement outside the country.

Currently in 15 African countries, excluding Kenya, Niger, and Mali, which are new projects. The company’s current total capacity stands at 48mmtpa, out of which Nigeria alone has the largest chunk of 29.3mmtpa.

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